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Law No. 40 Of 20 April 1992 On The Assessment Of The Tax On Dividends From Companies

Original Language Title:  LEGE nr. 40 din 20 aprilie 1992 privind stabilirea impozitului pe dividende la societăţile comerciale

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LEGE No. 40 of 20 April 1992 on the establishment of dividend tax on companies
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 73 of 23 April 1992



The Romanian Parliament adopts this law + Article 1 On dividends due to shareholders or associates, as the case may be, regardless of the nature of the social capital, a tax of 10 percent is charged, which constitutes income to the state budget. + Article 2 In companies with full or majority state capital, the dividends to be subject to taxation shall be determined by deduction, from the profit remaining after the payment of the related tax, of some parties representing the participation fund of employees at profit, up to 10 percent, as well as a development fund for modernization, refurbishment, increase of own financing sources, up to 50 percent. + Article 3 The obligation of calculation and payment to the state budget of the dividend tax returns to companies and is made with the effective payment of dividends to the shareholders or associates of the company. For the term non-burning of the dividend tax, an increase of 0.1 percent is applied for each day of delay, but not more than the tax due. + Article 4 The tax procedure applicable in the case of dividend tax is the one provided for the profit tax, regulated according to the provisions Law no. 12/1991 on corporate income tax. + Article 5 On the date of entry into force of this Law, the provisions Law no. 29/1978 on the training, planning, destination and payment of benefits, point 8 of Annex no. 2 2 to Law no. 12/1991 on corporation tax, Government Decision no. 781/1991 on the establishment of dividend tax on companies, as well as any other provisions to the contrary. This law was adopted by the Chamber of Deputies at its meeting on February 25, 1992, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. CHAMBER OF DEPUTIES PRESIDENT MARTIAN DAN This law was adopted by the Senate at the meeting of April 14, 1992, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. SENATE PRESIDENT academician ALEXANDRU BIRLADEANU -------------------